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Donnish, tall and kitted out in the uniform of a City gent, Anthony Bolton
cuts an unusual figure amid the noisy bustle of a chaotic Chinese
supermarket.

Standing in a Wumart grocery store in a middle-income suburb of Beijing, he’s
pointing out a garish-looking brand of hair restorer. “This was one of my
disappointments.”

Mr Bolton has pounced several times on stocks hit by the many health scandals
that have plagued dozens of Chinese companies in recent years. The volatile
nature of markets makes for large falls in share prices in such cases, which
often prove overdone. Mr Bolton bought